CHI Memorial announced that Michael Sutton has been selected as market chief financial officer (CFO). Mr. Sutton’s appointment as market CFO follows Troy Hammett’s transition to focus exclusively on his role as chief financial officer for the southeast division of Catholic Health Initiatives. Mr. Sutton will report to Janelle Reilly, CEO, CHI Memorial.
Mr.
Sutton has more than 22 years of healthcare leadership experience. Before joining CHI Memorial in 2001 as manager of cost and reimbursement, he served as a senior auditor for BlueCross BlueShield of Tennessee. For the past five years, he has served as the vice president of finance at CHI Memorial.
“Michael has cultivated exceptional knowledge in all components of the healthcare finance industry,” said Ms. Reilly. “He has significant experience in performance improvement and operations, having held responsibility for cost and reimbursement, financial operations, revenue cycle, supply chain and managed care functions.”
During his 17-year tenure at CHI Memorial, notable achievements include acting as interim chief financial officer, serving as the financial lead on a $265 million master facility project, spearheading the “close the gap” initiative to reduce expenses by more than $12.2 million during the Great Recession, collaborating with payor strategies to achieve increases in reimbursement rates, and leading many performance improvement efforts resulting in multi-million dollars in year over year improvements.
Mr. Sutton holds a Master of Business Administration, Accounting degree from the University of Tennessee at Chattanooga, and a Bachelor of Science degree in accounting from the University of Tennessee. He is a member of the American College of Healthcare Executives and Healthcare Financial Management Association.